MEPS (Stainless Steel Review) has uprated its estimate for Western World crude stainless steel production in 2003 to 20.3 million tonnes. MEPS says the upgrade was necessary to accommodate higher than anticipated out-turns in South Africa, India, Taiwan and Brazil last year. MEPS estimates that stainless steel production in China was 700,000 tonnes in 2003 – giving a global figure of 21.3 million tonnes. This equates to an 8.5% year-on-year increase.
